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ANZ survey shows New Zealand business confidence surges in July

ANZ said firms are more upbeat despite volatile oil prices and rising Middle East tensions, while one-year inflation expectations and other price measures continued to soften from June.

Reported · Written up by our desk · Central Banks

New Zealand business confidence jumped sharply in July, according to ANZ’s Business Outlook survey, with headline confidence rising to 56.1 from 36.6.

Firms also lifted their own activity outlook to 49.3 from 36.9, alongside improvements in export, investment and employment intentions, pointing to broader-based recovery in sentiment despite geopolitical uncertainty.

ANZ cautioned that the outlook remains unusually uncertain as businesses face swings driven by volatile oil prices and escalating Middle East tensions, and it highlighted that businesses and households may adjust spending plans if uncertainty persists.

The bank also noted easing inflation indicators, with one-year inflation expectations, pricing intentions and cost expectations all declining from June, a mix that ANZ said could give New Zealand’s central bank more confidence that growth can continue without renewed tightening.

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